The LoveSac Company #IPO Preview ($LOVE)

Company: The Lovesac Company
Symbol: LOVE
Description: They are a technology driven, omni-channel company that designs, manufactures and sells unique, high quality furniture comprised of modular couches called Sactionals and premium foam beanbag chairs called Sacs.
Trade Date: 6/27
Shares: 3 million
Price Range: $13.00-$15.00
Underwriter(s): Roth Capital Partners
Co-Manager: Craig Hallum
Terms Added: 6-18-18

Link to Prospectus

Link to Retail Roadshow

Business:

They are a technology driven, omni-channel company that designs, manufactures and sells unique, high quality furniture comprised of modular couches called Sactionals and premium foam beanbag chairs called Sacs. They market and sell their products through modern and efficient showrooms and, increasingly, through online sales. They believe that their ecommerce centric approach, coupled with their ability to deliver their large upholstered products through nationwide express couriers, are unique to the furniture industry.

Financials: Their total net sales were $76.3 million and $101.8 million, and their net loss was $6.9 million and $5.5 million in fiscal 2016 and 2017, respectively. In the first quarter of fiscal 2018, their total net sales increased 51.8% to $26.8 million and their net loss increased 70.3% to $5.7 million, compared to results in the same period in the previous fiscal year.

 

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